Experienced content moderation company secures €3 million investment to continue improving their AI that cleans up the Internet

Every day businesses and individuals are subject to online fraud and scam attempts.

Stockholm-based Besedo already has over 400 employees in 6 countries, which reviews over 500 million ads and listings each year. With the help of new capital, primarily from the Investment company AB Spiltan, Besedo can now intensify the launch of the company’s enhanced services, automating a large part of the work through artificial intelligence and machine learning.

“Up to every fifth post on ad or dating sites can be deceptive. We help classifieds sites and online marketplaces like Blocket or eBay Germany as well as global dating sites like Match.com find fake profiles, fraudulent ads, fight scam and keep millions of users safe. Through the new investment, we are even better equipped for the next step and gain resources to accelerate our sales. I’m especially pleased that my management team and I now also join as owners to continue pushing this company to an even stronger position in the market, “says Patrik Frisk, CEO of Besedo.“

Petter Nylander chairman of the board, previously CEO of Unibet and TV3 Sweden, participated in the total investment of approximately EURO 3 million.

“Besedo is my next big commitment and I really look forward to seeing the company grow, as more and more companies realize the need to keep their sites safe and remove unwanted content. With our automated product, we can quickly, smoothly and efficiently help our customers ensure that their websites provide the right information at a high level of quality. We are also developing image recognition methods, yet despite the rapid technological developments, AI and algorithms cannot solve all problems. We also need people to continuously develop and improve our services and take Besedo into more markets, “comments Petter Nylander.

The majority of the new investment comes from Investment company Spiltan, which now becomes a new major shareholder with just over 22 per cent of the shares.

“This deal fits very well into Spiltans ambition to help talented entrepreneurs continue to develop their businesses. The fact that CEO and management now also become an owner strengthens Besedo for the continued journey. The company has an exciting mix where the existing already profitable business together with the new, more automated services make this a very nice addition to our portfolio of growing entrepreneurial companies, “says Göran Pallmar, Investment Manager at Investment AB Spiltan who will now also join the company’s board.

About Besedo
Sweden based Besedo has around 400 employees in 6 countries. They offer a platform for content moderation of websites. Every year they review more than 570 million ads and listings for classifieds sites and online marketplaces like Schibsted, Ebay Europe and dating sites like Match.com/Meetic helping them remove unwanted content and prevent fraud. On a yearly basis Besedo removes more than 40 million scam attempts and irrelevant content pieces. Read more at www.besedo.com.

About Investment AB Spiltan
Investment AB Spiltan is an investment company with access to around 500 million euro which they invest in companies with proven business models, growth potential and lead by talented entrepreneurs. Through long-term, personal engagement and an entrepreneurial approach Spiltan creates the foundations for stable development and return on investment. Spiltan has approximately 2900 shareholders and is traded at pepins.com/alternativa listan more info at www.spiltan.se

Contacts:

CEO at Besedo Patrik Frisk | patrik.frisk@besedo.com | 0705-70 92 02

Chairman Petter Nylander | petter.nylander@gmail.com | 0765-25 09 55

Investment Manager Göran Pallmar | goran@spiltan.se | 0708-89 81 12

Communications Manager Gustav Blix | gustav@spiltan.se | 0707-74 74 00